"I feel that Jamie should not have picked this fight," Cramer said Thursday. "He doesn't realize that the banks, from the point of view of Washington, are all about too big to fail. He doesn't seem to understand that that's an issue for them and they also don't want big rates of returns for the banks or at least for the big banks that cause a problem."

Dimon on Tuesday expressed concern that the banks are being regulated too much. He told Bernanke that too much capital-holding could hurt financial institutions to a point where it would harm the economic recovery. Bernanke said nobody is sure of the right amount of regulation, but would ensure it wouldn't impede upon the recovery.

---ONE-ON-ONE WITH SPRINT CEO DAN HESSE

If AT&T's plans to acquire T-Mobileare approved, it would enjoy more than 75 percent of revenues in the wireless communications industry, Sprint CEO Dan Hesse told Cramer Thursday.

If AT&T were to merge with T-Mobile, the deal would combine two of the four largest U.S. carriers. Competition promotes innovation and leads to lower prices, Hesse said. The proposed deal impedes on both, he argued.

So what's the trade?

Whether or not the deal goes through, Cramer likes Sprint . He thinks it's a well-run company that's benefiting from innovative products and great service. It seems he's not the only one who's bullish on Sprint. The stock has appreciated 21 percent since the AT&T, T-Mobile deal was announced in March.

See Cramer's exclusive interview with Hesse on Thursday's "Mad Money" at 6 and 11 p.m. ET on CNBC.